Portfolio Details as of 02/27/2015

Weighted Average Market Cap.
88.4 B
P/E Ratio
P/B Ratio
Portfolio Turnover Ratio as of 11/28/2014
Number of Holdings
Total Net Assets
$2.15 B

Portfolio Positioning as of 12/31/2014

  • United Technologies Co., a diversified industrial firm that produces elevators, climate control systems, and airplane engines, is the portfolio’s largest overweight position, relative to its benchmark, the S&P 900 10-Year Dividend Growth Index, as of December 31, 2014. We believe that investors are underestimating the ability of the firm to capitalize on a recovery in the nonresidential construction and aerospace markets.
  • The portfolio also is overweight, relative to its benchmark, in Lowe’s Companies, Inc., a home improvement retailer. Our view is that better service levels and merchandising likely will lead to improved margins and profit expansion that are not currently reflected in the stock price.
  • Chevron Corp., an integrated energy company, is another overweight position, relative to the benchmark.  We do not believe that investors appreciate how well-positioned the company is to benefit from the North American onshore oil and gas renaissance. 

Sector Allocationas of 02/27/2015

Sector Weighting Fund Change from Previous Quarter
Consumer Discretionary arrowUp0.4%
Industrials arrowUp0.3%
Financials arrowDown0.4%
Information Technology arrowDown1.4%
Telecommunication Services arrowUp2.4%
Energy arrowDown0.1%
Utilities arrowDown1.1%
Materials arrowDown0.5%
Consumer Staples arrowUp0.7%
Health Care arrowDown0.2%

Attribution Analysis 

Calibrated Dividend Growth Fund Benchmark Variance
Sector Avg. Weight Base Return Avg. Weight Base Return Stock Selection Group Weight Total

Strongest & Weakest Performers

Strongest Performers

Holding Contribution
Lowe's Cos, Inc. 0.9%
Walgreen Co. 0.8%
3M Co. 0.6%
AbbVie, Inc. 0.5%
Medtronic, Inc. 0.4%

Weakest Performers

Holding Contribution
International Business Machines Corp. -0.5%
Helmerich & Payne, Inc. -0.4%
Occidental Petroleum Corp. -0.3%
Chevron Corp. -0.2%
Caterpillar, Inc. -0.1%
Fund Dividends & Cap Gains next tab

Contact a Representative